Publications and Subscriptions "Entrepreneur" Flash

"Entrepreneur" Flash

Issued every 14 days, it includes the current economic indicators and the trend outlook from Credit Suisse Economic Research – sent directly to your smartphone.

December 18, 2017

Forecast for the Next 30 Days:

Demand:

Rising

Inflation:

Rising

Labor market:

Rising

Will the Fresh Snow Save Winter Tourism?

Tourism is the topic featured in the latest "Monitor Switzerland," the Credit Suisse flagship publication. Despite current signs of a recovery, the industry still faces major challenges in the Alpine region – in particular because ongoing climate change continues to cause high investment and operating costs for mountain railway operators. In the cities, on the other hand, the hotel trade has seen a rise in overnight stays despite the Swiss franc's repeated bouts of appreciation, mainly thanks to a growing flow of visitors from Asia. Beneficiaries of this trend also include individual tourist hotspots in and around Lucerne, as well as the Bernese Oberland. Both destinations are included in the "Tour de Suisse" itinerary of Chinese group travelers. However, the value creation generated by these tourists is likely to remain concentrated in only a few destinations in future and be much lower than the contribution from independent Asian travelers. Rather than encouraging mass tourism, Switzerland should in our view be showcasing its attractions as a destination to independent travelers from Asia in order to generate greater potential value creation.

Exchange Rate and Interest Rates Today / in 3 Months:

EUR/CHF: 

1.17/1.18

3m LIBOR: 

–1.25 - –0.25 / –1.25 - –0.25

10-year government bonds:

−0.18/0.1